摘要
通过拓展Melitz(2003)和Helpman et al.(2004)的异质性企业出口模型并使用中国小微企业调查(CMES)数据,本文围绕业主金融知识对小微企业出口的影响进行了理论和实证研究。从理论机制来看,业主金融知识的增加可以缓解小微企业所面临的信贷约束,保障小微企业用于提升生产率的资金投入,进而提升小微企业的生产率、促进小微企业参与到出口市场。进一步地,本文采用因子分析法构建业主金融知识指标,并采用Probit模型、线性概率模型和Logit模型进行了实证检验。研究结果表明,业主金融知识的增加对小微企业出口行为具有显著的正向影响。即业主金融知识的增加显著提升了小微企业参与到出口市场的概率。此外,小微企业业主的性别、风险偏好、社会网络以及企业的创新活动也对小微企业的出口决策具有重要影响。最后,根据研究结论,本文提出了相应的政策建议。
By expanding the heterogeneous firms export model of Melitz(2003)and Helpman et al.(2004)and using Chinese small and micro enterprise survey(CMES)data,this paper conducts theoretical and empirical research on the impact of financial literacy of entrepreneurs on small and micro enterprises’(SMEs)export.From the perspective of the theoretical mechanism,the increase of entrepreneurs’financial literacy can alleviate the credit constraints faced by SMEs and encourage their participation in export market.Furthermore,this paper uses the factor analysis method to construct the financial knowledge indicators of the entrepreneurs,and then conducts an empirical test by using Probit model based on CMES data.The empirical results show that the increase of entrepreneurs’financial literacy has a significant positive impact on the export behavior of SMEs.Specifically,the increase of entrepreneurs’financial literacy significantly increases the probability of SMEs’participating in the export market.In addition,the gender,risk preference,social network,and innovation activities of entrepreneurs also have significant effect on SMEs’export decisions.
作者
辛大楞
李建萍
XIN Daleng;LI Jianping(School of Economics,Shandong Normal University,Jinan 250358,China)
出处
《金融评论》
CSSCI
北大核心
2020年第5期35-50,125,共17页
Chinese Review of Financial Studies
基金
国家社会科学基金青年项目(批准号:18CJL037)
2019年山东省高等学校“青创科技计划”立项支持团队(人文社科)项目(批准号:2019RWE015)的资助。
关键词
金融知识
出口
小微企业
信贷约束
Financial Knowledge
Export
Small and Micro Enterprise
Credit Constraint
